Which is upsetting countries attempting to dig themselves out of from under mountains of debt.

Bloomberg: “Low corporate taxes will help Switzerland attract business, but it’s also creating tension as European governments seek revenue to plug their fiscal deficits.” said Alan McQuaid, chief economist at Bloxham Stockbrokers in Dublin.

Switzerland reported a fiscal surplus last year, and cantons from Zurich to Schwyz are lowering taxes.

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Whilst Britain and the rest of Europe raise taxes…Hmmm, who wouldn’t be tempted.